Overview
What is Venture Out Business Center Foundation Inc?
Venture Out Business Center Foundation Inc, located in Madison, Indiana, is a nonprofit organization with a mission to boost the local economy. They achieve this by providing assistance to new businesses, offering them necessary space to grow and develop. With a staff of eight dedicated individuals, this foundation plays a significant role in supporting the entrepreneurial community, thereby contributing to the overall economic growth of the area.
Official website here: www.ventureoutbusinesscenter.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 83% (Three-Star out of Four Star rating)
Venture Out Business Center Foundation Inc has received an 83% rating from Charity Navigator, indicating a solid performance in terms of accountability and finance. The organization boasts a fully independent board with 100% independent members, which reflects strong governance. Additionally, it has a high program expense ratio of 95.34%, suggesting that most of its funds are directed toward its mission-driven activities.
While the organization demonstrates strength in various key areas, there are notable limitations. The charity lacks a whistleblower policy and a document retention and destruction policy, which may raise concerns about internal accountability and transparency. However, it does provide access to board meeting minutes, which is a positive indicator of its operational transparency.
Overall, the foundation shows a commitment to effective financial management and governance, though improvements in its policies regarding whistleblower protections and document management could enhance its overall accountability framework.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Venture Out Business Center Foundation Inc?
96% of 45 reviewers on Facebook recommend Venture Out Business Center Foundation Inc. Here's a summary of their responses:
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Overall, the organization appears to effectively introduce newcomers to the world of CrossFit, fostering a supportive environment that encourages ongoing participation and enthusiasm. The positive recommendations suggest that Venture Out Business Center Foundation Inc successfully connects with its community and helps individuals achieve their fitness goals.
This AI summary has been generated from reviews found on Facebook.
Is Venture Out Business Center Foundation Inc legitimate?
Venture Out Business Center Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Venture Out Business Center Foundation Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $84,813
For more financial information, click here
Official website here: www.ventureoutbusinesscenter.com
What is the mission statement of Venture Out Business Center Foundation Inc?
Venture Out Business Center Foundation Inc's mission is centered around boosting the local economy. They accomplish this by offering assistance to new businesses. The organization provides a conducive environment, offering both physical space and necessary guidance, to help these new businesses thrive and grow. This initiative ultimately aims to contribute positively to the economic development of the community.
Official website here: www.ventureoutbusinesscenter.com
Who is the CEO of Venture Out Business Center Foundation Inc?
Devon Sharpe is the President of Venture Out Business Center Foundation Inc.
Official website here: www.ventureoutbusinesscenter.com
What is the revenue of Venture Out Business Center Foundation Inc?
Venture Out Business Center Foundation Inc's revenue in 2022 was $168,111.
Official website here: www.ventureoutbusinesscenter.com
Who are the executives of Venture Out Business Center Foundation Inc and what are their salaries?
The average compensation at Venture Out Business Center Foundation Inc during 2022 was $10,602. There are 8 employees and 8 volunteers at Venture Out Business Center Foundation Inc.
Here are 8 key members and their salaries:
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Official website here: www.ventureoutbusinesscenter.com
Where can I find the form 990 for Venture Out Business Center Foundation Inc?
Venture Out Business Center Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.ventureoutbusinesscenter.com
Learn more at the official website: www.ventureoutbusinesscenter.com
Mission Statement of Venture Out Business Center Foundation Inc
Venture Out Business Center Foundation Inc is committed to bolstering the local economy by extending assistance to new businesses. This nonprofit organization's mission is centered around providing the necessary resources and space for burgeoning businesses to thrive and grow. By offering its aid, Venture Out Business Center Foundation Inc aims to contribute positively to the economic development of its community.
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Impact
October, 2024
Venture Out Business Center Foundation Inc plays a significant role in promoting and enhancing the local economy in Madison, Indiana. By providing essential support to new businesses, the organization helps foster entrepreneurship and economic development in the area. This assistance includes offering dedicated space, which creates an environment conducive to growth and innovation.
Furthermore, the foundation’s focus on community improvement contributes to job creation and encourages local spending, which can have a ripple effect throughout the economy. By nurturing startups and small businesses, Venture Out helps strengthen the local community, making it more vibrant and resilient.
This information is meant to be a general summary of Venture Out Business Center Foundation Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $46
- Program Service Revenue: $168,065
- Gross Receipts: $168,111
Assets and Liabilities:
- Total Assets: $1,084,340
- Total Liabilities: $6,868
- Net Assets: $1,077,472
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT INCOME
Revenue
$148,109
FOOD VENTURE USAGE
Revenue
$18,789
MISCELLANEOUS INCOME
Revenue
$1,167
Organization Details
Founding Year
1996
Principal Officer
Devon Sharpe
Main Address
975 INDUSTRIAL DRIVE, MADISON, IN, 47250
NTEE Category
Code: S43 - Community improvement
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